Credit union membership continued to expand in the first six months of the year. Based on the June 30, 2008, Call Report data submitted by the nation’s 7,972 federally insured credit unions, the National Credit Union Administration reported that credit union membership increased 1.3 percent to 87.9 million members.

NCUA said the loan to share ratio remains high at 80.72 percent. With the exception of declines in new automobile and other unsecured loans/lines of credit, all major loan categories grew from December 2007 through June 2008. In addition to the 10.1 percent increase in first mortgage real estate loans, which represent $198.1 billion, other types of real estate loans reported 1.7 percent growth to $92.8 billion, used automobile loans grew 3.3 percent to $92.0 billion, unsecured credit card loans grew 1.5 percent to $30.6 billion, and all other loans/lines of credit grew to $25.6 billion.

“Although current mortgage and credit markets continue to cause fluctuations in the financial sector, the overall fiscal condition of federally insured credit unions remains stable,” said NCUA Chairman Michael E. Fryzel. “In addition, first mortgage real estate loans grew by 10.1 percent from January through June 2008, illustrating that credit unions continue to meet their members’ mortgage loan needs.”